Philippines - Income

The US Central Intelligence Agency (CIA) reports that in 2001 the
Philippines' gross domestic product (GDP) was estimated at $335
billion. The per capita GDP was estimated at $4,000. The annual growth
rate of GDP was estimated at 2.8%. The average inflation rate in 2001
was 6%. The CIA defines GDP as the value of all final goods and services
produced within a nation in a given year and computed on the basis of
purchasing power parity (PPP) rather than value as measured on the basis
of the rate of exchange. It was estimated that agriculture accounted for
17% of GDP, industry 30%, and services 53%.

The World Bank reports that in 2001 per capita household consumption (in
constant 1995 US dollars) was $875. Household consumption includes
expenditures of individuals, households, and nongovernmental
organizations on goods and services, excluding purchases of dwellings.
It was estimated that for the same period private consumption grew at an
annual rate of 1%. Approximately 37% of household consumption was spent
on food, 11% on fuel, 1% on health care, and 14% on education. The
richest 10% of the population accounted for approximately 36.6% of
household consumption and the poorest 10% approximately 2.3%. It was
estimated that in 2001 about 40% of the population had incomes below the
poverty line.According to the United Nations, in 2000 remittances from
citizens working abroad totaled $125 million or about $2 per capita and
accounted for approximately 0.2% of GDP. Worker remittances in 2001
totaled $122 million. Foreign aid receipts amounted to about $7 per
capita and accounted for approximately 1% of the gross national income
(GNI).